The current world is moving towards cryptocurrencies and people are constantly investing millions and billions of dollars here. While countless people are becoming wealthy from this crypto and industry, some people are not leaving here destitute and sitting on the streets. In fact, everything depends on knowledge. The more you learn and the more you manage your work accordingly, the more you will benefit, no matter what sector.
Crypto currency is one of the riskiest investments I've ever seen. I have seen many people become wealthy with crypto, and many have lost everything, so I never tell anyone to invest in cryptocurrency. You should only invest as much money in cryptocurrencies as you can afford to lose. In other words, invest only as much as you will not regret losing.
It is truly frightening that most of the major hacking and crime incidents happening in the world these days are centered around cryptocurrencies. Another thing is that the crypto market is always unpredictable, meaning no one can even imagine in advance what will happen in this industry. Sometimes, rumors and gossip in the saturated industry cause a massive collapse, which can suddenly take away everything from many people.
Another thing is that there are various types of frauds in the fiat currency and some dishonest people have the power to take advantage of the opportunity and take everything away.
Again, Crypto Currency has several advantages, such as it being a virtual currency that you can easily transfer and invest in, and it is also possible to easily earn from it by trading, If you have enough knowledge. Nowadays, there is a huge demand for cryptocurrency in the world and a market from which people are constantly able to fulfill their needs.
I think there is a need for both cryptocurrency and fiat currency. See, since crypto currencies have no fixed value and their prices fluctuate constantly, it is not always possible to do everything with them. Because the price of a coin today may drop by half tomorrow, while a coin that is worth very little today may double tomorrow. So how do you accurately price this cryptocurrency and manage all your operations?
So I think it's not possible to do everything with cryptocurrency alone. We definitely need fiat currency and banks to handle all financial tasks.
I am Shopnil Hasan, From Bangladesh. I am Mechanical Engineer. I work with machines as a profession and blogging is my passion. My hobbies are gardening and traveling to new places. I am nature lover. Love and Simplicity is my power ☘️
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Having a combination of both cryptocurrency and fiat currency provides stability and flexibility, making it easier to navigate the complex world of finance.